San Bernardino County residents push back against eminent domain

 · While housing advocates urged support for the plan, realtor Jeffrey Wright warned that going through with eminent domain could prompt a clampdown in mortgage lending in Richmond or push.

Portland Commissioner-elect Steve Novick says he’s intrigued by a proposal in San Bernardino County that some believe could slow. "have localities buy underwater mortgages using their power of.

At his urging, San Bernardino County linked up with two of the cities in the county — Fontana and Ontario — where he had previously served as city manager. Together they formed a new legal body, known as a Joint Powers Authority, to weigh the eminent domain plan and any other ideas on how to help local homeowners.

Fannie Mae and Freddie Mac are refinancing fewer mortgages than at any point since the crisis Fannie and Freddie’s share of new mortgages issued fell from 70% of the market in 2003 to just 40% in 2006. By 2007, private mortgage-backed securities funded 27% of all outstanding residential mortgages, more than three times the market share they held in 1998. Fannie and Freddie never purchased subprime loans in any significant quantities.

The San Pablo City Council proposed in February 2010 the reauthorization of two newly expired redevelopment areas that covered approximately 95 percent of the city. Local property owners organized themselves together to form San Pablo Against Eminent Domain-a critical step in.

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